CAJ Technical Analysis - CANON INC-SPONS ADR

Technical Rating and Analysis

Taking everything into account, CAJ scores 1 out of 10 in our technical rating. CAJ has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.

The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.

CAJ is one of the lesser performing stocks in the Technology Hardware, Storage & Peripherals industry. 62% of 33 stocks in the same industry do better.

CAJ is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.

When compared to the yearly performance of all other stocks, CAJ outperforms 58% of them, which is more or less in line with the market.

In the last month CAJ has a been trading in a tight range between 21.35 and 22.30.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

CANON INC-SPONS ADR / CAJ Weekly stock chart

CANON INC-SPONS ADR / CAJ Daily stock chart

Setup Rating and Analysis

Although the technical rating is bad, CAJ does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 21.32, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

20.64

25.37

When analyzing the support we can see 2 important areas.

A support zone ranging from 21.26 to 21.32. This zone is formed by a combination of multiple trend lines in multiple time frames.
A support zone ranging from 20.85 to 20.85. This zone is formed by a combination of multiple trend lines in the daily time frame.

3 important resistance areas can be observed.

A resistance zone ranging from 21.64 to 22.05. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 22.68 to 23.36. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @25.12 from a horizontal line in the weekly time frame.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	DOWN	NEGATIVE	The long term trend for CAJ is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for CAJ is down.
ChartMill Relative Strength	58.56	NEUTRAL	CAJ is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of CAJ is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of CAJ is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of CAJ is below a declining SMA(200).
Relative Strength Index/RSI (14)	45.97	NEUTRAL	The RSI value for CAJ is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.01	NEGATIVE	The MACD value suggests CAJ has a negative trend, although the MACD value is rising.
Stochastics (14,3)	39.22	NEUTRAL	The Stochastics value for CAJ is a neutral value.
Average True Range in percent/ATR (20)	1.27	LOW VOLATILITY	The low ATR as a percentage value for CAJ suggests low volalility.
Average Directional Index/ADX (14)	26.6	POSITIVE	The high ADX value value for CAJ suggests a strong trend.